Exmo Exchange Review: Fees, Features & More
This one is a United-Kingdom-based cryptocurrency exchange with Eastern European blood flowing through its veins. It opened for business in 2014 and operates from London, Moskow, and Kyiv. In 2019, they released the Exmo Coin (EXM,) the exchange’s native asset. A complete Exmo Exchange Review awaits you here.
- Operating Since 2014
- Currencies Supported 55
- Fees Vatiable
- Margin Trading No
- Futures Trading No
- Is Exmo safe to use?
- Currencies supported
- Mobile apps
- Know Your Customer
- Exmo's 8 unique characteristics
- Customer support
- Fund liquidity (volume over 24h/month/year to date)
- How does the Exmo exchange fares when compared with the big dogs in the industry?
- Exmo Exchange Review Australia: Fees, Features & More
- Exmo Exchange Review Canada: Fees, Features & More
- Exmo Exchange Review UK: Fees, Features & More
They claim to be one of the biggest crypto exchanges in Europe but, in reality, it’s medium-sized if we go by the world’s standard. Exmo functions both as an easy-to-use exchange for beginners and as a semi-professional cryptocurrency trading platform.
It’s worth noting that this exchange can’t take clients from the United States of America.
They’re continually evolving and trying new ideas, which is a good thing. Nevertheless, the main question this exchange review intends to answer is the following:
Is Exmo safe to use?
Is Exmo safe to use?
In general, we would say yes. Their story has a few controversial episodes, though:
- In 2017, and then again this year in February, a DDoS attack took the site offline for a few hours.
- In December 2017, one of their executives, Pavel Lerner, was kidnapped and then released after paying a huge ransom in Bitcoin. The crypto exchange assured the public that Lerner didn’t have access to user’s personal info, nor to their funds. No further damage was reported, so apparently, they were telling the truth.
- In December 2020, their hot wallets were compromised. A whopping five percent of all assets Exmo had in custody were reported stolen. Their cold wallets remained untouched and the exchange covered the losses of all affected users, though.
The company faced trouble head-on and shielded their clients, but the amount of attacks raises suspicion. Every user has to decide for himself if working with them is worth the risk.
On the technical side, the exchange offers two-factor authentication (2FA) and IP addresses whitelisting to secure your account.
Those two security measures are basically the industry standard right now. On that side, there’s nothing to worry about… as long as you keep your end of the deal and use them correctly.
Exmo offers trading in a fairly good selection of some of the more popular cryptocurrencies for euro, US dollars, and Russian rubles. Compared to some other exchanges, Exmo appears to offer a decent portfolio of alt-coins, whereas some platforms only offer trading in Bitcoin.
In general, they charge a 0.2% flat fee for deposits and withdrawals.
Depending on the payment method you choose and the fiat currency you use, there might be additional charges.
For example, If you choose to use a credit card or debit card:
- For USD, the deposit fee is 3.99% + $0.35.
- For EUR it’s 2.99% + €0.3
- For GBP it’s 1.99% + £0.3
- For RUB it’s 2.99%, but it also has a 4.99% + 60 RUB withdrawal fee.
- For UAH it’s 1% + 5 UAH, and it also has a 1.49% withdrawal fee.
If depositing is more of your thing, they work with a variety of payment systems. Once again, everything depends on the Fiat currency of your choice. For example:
- In USD, a wire transfer using WIRE Frick Bank doesn’t have a deposit fee, but it has a $22 withdrawal fee. You can also use Payeer with a 1.99% deposit fee and no withdrawal fee.
- In EUR, a wire transfer using WIRE Frick Bank or SEPA Frick Bank both come with a zero deposit fee and a €1 withdrawal fee.
- In GBP, CHAPS has a £20 deposit fee and a 0.15% + £20 withdrawal fee. If you prefer Faster Payment, it’s a £3 deposit fee and a 0.15% + £3 withdrawal fee.
- In RUB, Qiwi charges 1.99% for both deposit and withdrawal fees. On the other hand, Payeer only charges for withdrawals, a 1.49% fee.
If you don’t see your preferred payment method listed here, we recommend that you go to the exchange’s site and check their listing. They’re always adding new possibilities.
You can also transfer BTC and all of their supported altcoins to your Exmo wallet and start trading right away.
For that, they don’t charge any deposit fee, but there are minimal withdrawal fees if you decide to retire and take your coins with you.
Last but not least, they offer a Gift Card that a user can use to fund his or her account. More on that later.
If you’re an advanced user of their trading platform, the fees are even lower and there’s the possibility of participating in their cashback program.
The fees depend on your 30-day trading volume, and on if you’re a maker (adding liquidity) or a taker (reducing liquidity). For example:
- If your 30-day trading volume is less than $5,000, the commission is 0.3% for makers and takers alike.
- If your 30-day trading volume is between $500,000 and $1,000,000, the commission is 0.06% with an 80% cashback for makers and 0.16% with a 46% cashback for takers.
- If your 30-day trading volume is more than 20 million Dollars, the commission is -0.05 with a 116% cashback for makers and 0.05% with an 83% cashback for takers.
There are, of course, many numbers between those three examples. Once again, we recommend that you go to the company’s site and check their comprehensive listing.
There’s also a Premium Cashback program available, in which for a flat sum in EXM you could get up to 100% cashback for makers and 66% for takers. Is it worth it? You tell us.
As you probably already know, this is an international exchange with a lot of options for clients around Europe. Let’s explore exactly what currencies they deal with.
They support eight, USD, EUR, GBP, UAH, KZT, TRY, PLN, and RUB.
Exmo supports seven major fiat currencies for users looking to convert fiat into cryptocurrency with a broad range of deposit methods available based on the country of origin. The payment methods include BACS, advcash, wire transfer Faster Payments, SEPA, credit cards (VISA, MasterCard), debit cards, and bank transfer.
This cryptocurrency exchange, of course, offers the big coins: Bitcoin (BTC) and Ethereum (ETH.)
And a selection of important altcoins: Tether (USDT,) Cardano (ADA,) DAI, Ripple (XRP,) Litecoin (LTC,) Bitcoin Cash (BCH,) Stellar Lumen (XLM,) Monero (XMR,) EOS, Dash (DASH), Zcash (ZEC,) Tron (TRX,) and even the recently popular Dogecoin (DOGE.)
Surprisingly, Exmo doesn’t list Polkadot (DOT.)
In total, it offers 55 digital assets. Other notable ones: NEM (XEM,) Tezos (XTZ,) Uniswap (UNI,) Waves (WAVES,) Gemini Dollar (GUSD,) KickCoin (KICK,) BitTorrent (BTT,) Velas (VLX,) Bitcoin Gold (BTG,) ROOBEE, Helbiz (HBZ,) BitcoinZ (BTCZ,) Ontology (ONT,).
Related and Relevant Data
- They offer 227 markets or trading pairs in total such as ETC/USD and ETC/RUB.
- The most popular are BTC/$, ETH/$, and ETH/USDT.
- They claim to have 1.7 million registered users and 40.000 active traders.
Currently, the exchange offers applications for both iOS and Android. Those are available on Apple’s AppStore, Google Play, and Huawei AppGallery.
Know Your Customer
One of the FAQs we always get is: Can you trade without verifying your account?
Yes, you can trade cryptocurrencies without a verified account.
To buy digital currencies or withdraw fiat currencies, you’ll have to go through a strict Anti-Money Laundering (AML,) Counter-Terrorist Financing (CTF,) and Know Your Customer procedure.
Exmo asks for a copy of a government-issued ID and a document to verify your address.
You’ll also need to download, print, and sign a user agreement and upload it to your account. If you’re going to use a credit or debit card, there’s an additional verification step.
Exmo's 8 unique characteristics
- They have a referrals program. You’ll earn 25% of the commission on all of your referrals’ transactions. If they use EXM, though, you’ll get 40%.
- Using Exmo Coins, you’ll be able to vote for the next cryptocurrency the exchange will support. A prize pool will form, and if you pick the right project a reward might come your way.
- Exmo users can communicate with each other using the exchange’s internal chat. Your next business partner can be there, waiting. Or maybe you’ll receive a valuable tip or advice. The only guarantee is that you’ll find like-minded people to talk to.
- The EXMO Gift Card is just a 57 characters code. When a user activates it, the funds get locked by the system. When the recipient uses the Gift Card, the funds get transferred to his or her’s account. Clever.
- If you need to process a transaction that is $50k or bigger, Exmo offers an Over The Counter (OTC) service. Use it to avoid price changes, gain confidentiality, and minimize risks. The operation is executed by a professional manager.
- The exchange offers a payment gateway for merchants. By just filling a form and pressing a few buttons, they can start accepting cryptocurrency payments.
- Exmo doesn’t offer margin trading yet, but they announced they were working on it in the EXM whitepaper. They don’t offer futures trading either.
- The exchange hosts a permanent bug bounty program. Technically skilled people are encouraged to test their systems using their own tools. If they find a minor mistake or vulnerability, they can report it and get a $100 reward. If they find a major bug, the reward could be bigger.
For this service, they use the Zendesk-based Exmo Support Service console.
It provides you with the latest reports from their technical team and lets you create a ticket or request assistance. You can also contact them via e-mail, but not through social media.
The exchange has mixed reviews on Cryptoradar, but the ones that mention their customer support always seem to praise it. Make of that what you will.
From 2015 to the present, the staff has been constantly active in Bitcointalk’s forum and in Reddit. They also answer users’ questions and requests through those services.
Fund liquidity (volume over 24h/month/year to date)
According to Nomics.com, at the moment of publication, Exmo’s trading volume over the last 24 hours was $53.42M. Over the last 30 days, it was $2.11B. And since the beginning of the year, it’s been $5.78B.
How does the Exmo exchange fares when compared with the big dogs in the industry?
This exchange’s interface is one of the few that can compete with Coinbase’s one in the intuitive and easy-to-use categories.
That functionality makes Exmo a near-perfect cryptocurrency exchange for beginners and investors that are not interested in trading at a professional level.
Even though their trading platform works really well and provides nice data and graphics, the lack of margin trading and/or futures trading leaves it out of the professional category.
Exmo’s commissions and fees are in the same ballpark as the big exchanges, they’re even a little higher in some cases. So, it can’t compete in that category.
Much less with Binance’s now-legendary really low fees.
In the security department, they obviously can’t compete with Bittrex’s perfect record. Are all those attacks they’ve suffered a symptom of something bigger and darker?
Or are they breaking a few eggs to make an omelet? Either way, this crypto exchange has something to prove security-wise.
The addition of EXM, their native cryptocurrency, and everything they’re doing with it is a step in the right direction.
Taking a page from Binance’s BNB strategy, they’re offering rewards, bonuses, cashback, less commission, a lot of advantages that might swing users their way.
And with that, we arrive at the department in which they excel: innovation. Thinking out of the box. Trying new things.
Maybe the big idea hasn’t arrived yet, but, as the “Exmo’s Unique Characteristics” section proves, they are open to it.
Exmo Exchange Review Australia: Fees, Features & More
This platform is a great choice, with benefits such as 24/7 availability, multiple payment options, support in 200 countries, and 182 crypto assets.
The crypto exchange platform allows crypto trading and bank transactions as well in order to facilitate their low trading costs and provide convenience. Exmo boasts cross-platform trading bots, exchange mode, trading volume, and a high global industry average.
Exmo claims to provide 24/7 customer support availability that is available worldwide and in four different languages (Turkish, Ukrainian, English, and Russian). Their website lists direct email addresses to get in touch with support.
The only minor drawback when it comes to the customer support aspect is that there’s no live chatbot, which is a very useful feature for users with immediate concerns. Other methods to get in touch with their customer support team include submitting a ticket or through their social media channels.
Exmo offers a trading app that has an easy-to-use and intuitive interface for trading on the move or tracking active positions at any place or time. The app also has extra features like instant price, 7-day profit and loss report, transaction history, quick order placing, etc.
With all Exmo’s amazing features, of course, the crypto exchange platform also comes with some minor drawbacks. For example, the transaction limit and no margin trading obstruct its overall performance.
But still, under most circumstances, Exmo seems one of the handiest crypto exchange platforms out there. With its multi-trading options and OTC desk, Exmo is deemed ideal for both beginners and experienced traders alike.
If you want a more local experience, try one of the options from our list of the best Australian crypto exchanges.
Exmo Exchange Review Canada: Fees, Features & More
Exmo is an excellent exchange platform for the Canadian crypto market. This platform offers benefits including 182 crypto assets, multiple payment options, 24/7 availability, and 200 countries which include Russia and Ukraine.
Exmo allows cryptocurrency trading and bank transactions in order to facilitate the platform’s low trading costs and convenience. Exmo boasts reasonable transaction fees, cross-platform trading bots, trading volume, exchange mode, and a high global industry average.
In terms of the customer support aspect, the exchange claims to provide 24/7 CS availability that is available around the world in four different languages, which include Russian, English, Ukrainian, and Turkish. Moreover, Exmo.com lists direct email addresses so users can reach out to support easily. Aside from email, users can also submit tickets or chat through the platform’s social media channels if they have concerns. If only the platform also offers live chatbots, their customer support will be perfect.
It’s also worth mentioning that Exmo offers a trading app that is very easy to use with an intuitive user interface for trading on the move or monitoring your active positions anytime or wherever you are. The Exmo app also boasts great features such as quick order placing, 7-day profit, and loss report, transaction history, etc.
On a side note, not all crypto exchange platforms are perfect. In this case, Exmo has a transaction limit and no margin trading which hinders the platform’s overall performance.
Overall, Exmo is still one of the most convenient cryptocurrency exchange platforms worldwide. With its OTC desk and multi-trading features, Exmo is perfect for both beginners and experienced traders alike.
For a list of Canadian-based exchanges, take a look at our post about the best crypto exchanges to buy Bitcoin in Canada.
Exmo Exchange Review UK: Fees, Features & More
Are you new to the crypto world and want to buy crypto on a big and reliable crypto exchange platform? If yes, then you should definitely Exmo!
Exmo is a prominent exchange platform in the crypto world and considered one of the best cryptocurrency exchange platform for British traders. It offers 182 cryptocurrencies, supports multiple payment options, 24/7 availability, and supports 200 countries.
Furthermore, the crypto company allows crypto trading and bank transactions in order to handle the exchange’s low trading costs and convenience. Exmost features cross-platform trading bots, trading volume, exchange mode, and a high global industry average.
Another aspect that Exmo excels in is its customer support service. The platform claims to provide 24/7 customer support that is also available in 4 different languages including English, Russian, Ukrainian, and Turkish. Additionally, Exmo lists direct email addresses so their users can reach out to the customer support department easily. Apart from email, users can also submit tickets or chat via Exmo’s social medial platforms if they have immediate concerns.
Exmo also boasts a trading app that comes with an intuitive user interface and is very easy to use for monitoring your active positions or trading while on the go. The app also features quick order placing, transaction history, 7-day profit, and loss report, and many more.
On the flip side, we all know that all crypto exchanges have their own respective drawbacks. And one downside that Exmo has is its transaction limit and no margin trading which affects the platform’s overall performance.
Regardless of this minor drawback, Exmo is still one of the top crypto exchanges around the world. Also, have we already mentioned that Exmo is suitable for both beginners and experienced traders alike? Yes, it is, especially because it offers OTC desk and multi-trading features.
If you’re in Eastern Europe, you should consider this cryptocurrency exchange. Their offer is solid and it offers advantages for people in your region.
If you’re not, there’s no advantage, no real reason to do your trading through Exmo.
This is one of the exchanges to watch. They’re trying new things. They have a lot to prove. And they have enough activity to fund their innovative plots and tactics.
If they manage to hit a nerve, you’ll hear their name again.
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